Does logistics service standardization matter for corporate investment?

Abstract

By promoting the logistics services standardisation, China has reduced circulation costs and improved circulation efficiency, thereby helping economic growth. We explore how logistics service standardisation affects corporate investment behaviour. Firstly, logistics services standardisation significantly promotes corporate investment. Secondly, the logistics services standardisation has improved the level of investment of enterprises by improving the growth and alleviating financial constraints. Thirdly, the grouping tests based on the circulation efficiency, production efficiency, and geographical distance of the supply chain show that the above promotion effects mainly exist in enterprises with lower circulation efficiency, lower production efficiency, and longer geographical distances in the supply chain. This study reveals the role of logistics standardisation in promoting corporate investment and its impact mechanism in the context of the circulation system reform, and expands the study of the effects of institutional influence on investment and standardisation on economic growth.